Alleged insider trader Matt Kluger must be thanking the stars
right now that he has parents who can afford to back his $1
million bond with $500,000 in cash.

Thanks to his parents, the alleged prep school kid turned insider
trader Matt
Kluger who was arrested last week is "free" on house
arrest.

He can leave the house only to care for his and his partner's
(surrogate) children or to get mental health counseling (if he
leaves the house for any other reason, his electronic monitoring
system -- an ankle bracelet, we're guessing -- will alert the
police) but obviously, it's much better than the alternative
(jail).

You'll remember that the former
M&A lawyer is alleged of insider trading based on tips he
learned reading the law firm Wilson Sonsini's internal system to
learn about upcoming deals.

We already knew a lot about
Kluger, like how he went to prep school, started his career at
a car dealership, became a lawyer, and used his job to find out
about upcoming M&A deals and (through a middle man)
told Garrett
Bauer to trade based on them. And then totally freaked out
and might have incriminated himself by saying really
stupid things on the (wire-tapped) phone.

But Bloomberg's
account of the court proceedings have revealed the following new
details about Kluger. And they do not paint a picture of someone
who would do well in jail. (Not that anyone would.)

At a previous job,
Kluger claimed he was harassed at the firm and then fired
because he was gay and partners had said they were “not
comfortable” working with him. He filed a sex-discrimination
lawsuit against Fried Frank (the law firm Fried Frank Harris
Shriver & Jacobson, from which Kluger is also alleged to have
stolen information for the purpose of insider trading), which
settled in 2004.

Kluger was adopted by “an
extraordinarily caring family” and his biological father died at
an early age of a heart condition.

He had five stents inserted five
or six years ago

He was charged with disorderly
conduct in Virginia about a year ago for allegedly destroying
property valued at less than $1,000. He paid a $100 fine.

Now out on bail thanks to his adoptive dad (a Pulitzer
Prize-winning social historian) and mom, who just posted his
pricey bail, Kluger can only leave the house under two
conditions, according to
Bloomberg:

It's for child care
purposes

Or he's undergoing mental-health
treatment

If he leaves the
house for any other reason, his electronic monitoring system (an
ankle bracelet, we're guessing) will alert the police.

So Kluger will be
relying a lot on his kids, twin 9-year-old boys and a
10-year-old son through a surrogate mother, according
to Bloomberg, to
get him out of the house. Fun for them! They get to spend time
with Dad, who was probably busy being an M&A lawyer for many
years.